Riyadh Development earns SAR 107.7M in H1 2025, SAR 65.6M in Q2

27/07/2025 Argaam Exclusive

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Riyadh Development Co. reported a net profit of SAR 107.7 million in H1 2025, compared to SAR 162.4 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 155.47 142.43 (8.4 %)
Gross Income 99.99 94.43 (5.6 %)
Operating Income 67.92 60.66 (10.7 %)
Net Income 162.40 107.70 (33.7 %)
Average Shares 177.78 233.93 31.6 %
Earnings Per Share before unusual items (Riyals) 0.84 0.46 (44.9 %)
EPS (Riyal) 0.91 0.46 (49.6 %)

H1 2024 results included earnings of SAR 61 million from land sale by associate company Tanal, the developer said, noting that the corresponding period also included revenue of SAR 26 million due to reversal of potential liability provision.

 

Meanwhile, in H1 2025, total revenues from main operations declined by SAR 13 million, or 8%, as the results of the corresponding period included revenue from Al-Tameer Center, which was transferred to Dira Development Co. for Real Estate Development and Investment as an in-kind contribution starting from December 2024.

 

Excluding Al-Tameer Center revenue, the total revenue from main operations increased by 8%.

 

Revenues from the markets, centers, and real estate development management activities increased by SAR 12 million or 8%.

 

The company also gained SAR 15 million from the revaluation of its investment in ANB Capital Arriyadh Development Real Estate Fund.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 77.04 72.89 (5.4 %)
Gross Income 48.89 51.80 5.9 %
Operating Income 34.64 34.95 0.9 %
Net Income 91.91 65.63 (28.6 %)
Average Shares 177.78 233.93 31.6 %
Earnings Per Share before unusual items (Riyal) 0.37 0.28 (24.5 %)
EPS (Riyal) 0.52 0.28 (45.7 %)

In Q2 2025, Riyadh Development’s net earnings dropped 28.6% to SAR 65.63 million from SAR 91.91 million.

 

Sequentially, the three-month net income leapt 56% from SAR 42.07 million.

 

Shareholders' equity (no minority interest) amounted to SAR 3.99 billion by the end of June 30, 2025, up from SAR 2.45 billion in the year-ago period.

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Share Price

Arriyadh Development Co.
32.02
0.02 0.06 %

Arriyadh Development Co. (ARDCO)

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Financial Ratios
Current
Market Cap (M Riyal) 7,490.47
Enterprise Value (EV) (M) 7,095.63
Shares Outstanding ((M)) 233.93
EPS ( Riyal) (TTM) 1.03
Book Value (BV) ( Riyal) 17.09
Par Value ( Riyal) 10.00
Recurring P/E 30.32
P/E (TTM) 31.02
Price/book 1.87
Return on Average Assets (%) (TTM) 6.8
Return on Average Equity (%) (TTM) 7.5
EV/adj EBITDA -
EV/Revenues 22.99
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